Is bitcoin transaction fees fair?

[shield132]

Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.

[timerland]

Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.

That might seem like it is a better solution for you, but in fact everything depends on the bitcoin price, and on the amount of users that are in the blockchain network.
In fact, the increase of the fee is because of that the bitcoin is way more expensive than in the past, but there is also very important factor we should always remember: the size of fee (in satoshi).

More than a year ago you could have sent 20k sat fee and the transaction would get confirmed in a normal time.
But we have so many people doing transfers, that 20k fee is simply not enough, unless you want to see your transaction being confirmed in next week.

[Amph]

remember that are not the miners that make the fee, they could accept even the lowest fee if everyone was using the lowest one and reducing the average, it's up to the peple that decide what fee to use

if for example everyone start now to lower his fee the average would be like the old 10k satoshi per transaction, but instead everyone is rushing to have his/her transaction prioritized and this is increasing the average, miners have no fault here

[hajimasan]

Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.

It is not the fault of the bitcoin or it's network , it is because the miners , nodes gives the priority to the transaction and confirmation for the transaction with high fees .
In the past not much high profile millionaire and billionaire were engaged in the bitcoin , but now millionaire and billionaire are increasing more in the bitcoin field and they are paying high fees for the confirmation , this high fee payment making the competition in the bitcoin network to confirm the transaction with higher fee then the lower one .
So just think about this logically that , here nothing is wrong , everything is fine and we should also pay high to support the miners in the bitcoin network , so that they can make profit more and make the network​ of the bitcoin more stable .

[Daniel91]

Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.

I also remember that I could send any transaction with normal fee and receive confirmations in a few hours.
Recently, I had to wait more than 24 hours for confirmation and because of this experience, now I send each transaction with higher fee.
Yes, I don't like it, but still is cheaper to send funds with bitcoin than with paypal or WU, for example.
It's obvious that this situation must be resolved somehow because bitcoin may become less attractive to the new people.
I don't think that transaction fee is connected with btc price.

[NeuroticFish]

Is this fair?

It's not fair, but it's necessary.
In the beginning, when Bitcoin price was low, people transferred bigger amounts of Bitcoin and (since the network was also not busy) the fees were low / kb and very small compared to the money transferred.
Now Bitcoin is big, making many people transfer really small amounts of Bitcoin. Even if the fee would be the same per kb, now we have more (smaller) inputs and we send out smaller amount of Bitcoin for the same number of USD. This means indeed the fees rising "too much" for our liking.
But as I stated, this is necessary. The miners have to be fed. If that will not happen the network will suffer, we will suffer, the price will suffer. Not good.

One of the bigger problems is that people transfer a lot of unnecessary small amounts. Of course, they have their reasons - want to earn here and there a few extra $, want to buy something "small" things, don't trust some services or just don't realize that small amounts will fight against them in some not too far future.

My laptop was 0.6-0.7BTC when I bought it, would you have believed this when BTC was dropping around 200-250$? or when BTC was 2$?. But the fees were 3$ (ouch).


Bottom line: If you want to dream of $2k, $10k or (!) $500k Bitcoin, you have to admit that this comes with fees that may become almost unbearable. But without that you may be left off without miners and with 100$ or 10$ Bitcoin. You don't want that.

[JL421]

It is not totally unfair as the fees was same from starting itself if the price increased (Which is what matters). there's nothing we can do about it. No one complained when the fees was low and everyone was happy. When it became more everyone has problem. Just try to reduce the low amount transaction.

[clickerz]

Not fair but I think it is reasonable. If you want a faster transaction, you shell out additional fees and lower fees for not so fast confirmations. I think it is not automatically setup but you have to select it manually in your wallet.I hope network improves so that it is convenient t0 send and receive transaction just like before.

[CuriousGeorge]

Not fair but I think it is reasonable. If you want a faster transaction, you shell out additional fees and lower fees for not so fast confirmations. I think it is not automatically setup but you have to select it manually in your wallet.I hope network improves so that it is convenient t0 send and receive transaction just like before.

the fee is already cheaper than any money transfer service, people who say it's unfair, better get off sending the money by themselves because they always consider the fee even a cent as unfair

[lemonade09]

For me its really not fair for a high fee in many bitcoin wallets but i already use bitcoin wallet that has a really fast transaction that sounds fair for a few cent fee but having a high fee for a really slow transaction is really not unfair for us we are paying fee's and didnt get a fat transaction we wanted and there are so many confirmations needed.

[ImHash]

Not only fair but harmful extremely for the bitcoin image, one of the promises of bitcoin was low fees,but now we just have to or rather forced to pay high fees and fee per byte is not even adjusted with the market price, what we need to do is to set and agree on the dollar value of fees instead of satoshi/ bitcoin value.
If you don't pay the higher than usual fee then you'd to wait hours and those unlimited guys are spamming the network to justify the need for an unlimited fork so when people complained about high fees they come and say hey we have a solution it's called BU.

[yugo23]

remember that are not the miners that make the fee, they could accept even the lowest fee if everyone was using the lowest one and reducing the average, it's up to the peple that decide what fee to use

if for example everyone start now to lower his fee the average would be like the old 10k satoshi per transaction, but instead everyone is rushing to have his/her transaction prioritized and this is increasing the average, miners have no fault here

I'm not so sure of that...

I mean why would the miner not simply agree to not accept a transaction with fee lower than X
or even do the transaction while putting fees themselves to make higher average fees...

I've seen blocks not full at all, doesn't it mean that miners are refusing transactions in some cases?

[lottery248]

if those transactions are insubstantial and affecting the core, then the fee resulting the slow confirmation which forced us to pay more fee is unfair, if those are regular transaction, it is fair by its weight. i don't really understand why we would have to pay such a high amount of transaction fee nowadays.

[naughty1]

Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.

A human thought of greed. I hate people like that. As bitcoin increases, we all get a bigger profit, so we have to pay a bigger fee, I think that's perfectly reasonable. Conversely, if bitcoin is of low value, we get less profit, so we just pay a small fee, it will not affect our profit.

[Alfa123]

Everyone wanted higher bitcoin price and we achieved this but another problem become transaction fees. When bitcoin's price was low, we had to pay also low fee and now when it rised, we have to pay high fee in bitcoins and plus that high fee is more higher with current price. Is this fair? The higher the price, the more money miners have with bitcoin exchange.
To my mind when price becomes high, we have to pay low fee and when it becomes low, than fee has to be high. To my mind it had to be done like this from the begining.

A human thought of greed. I hate people like that. As bitcoin increases, we all get a bigger profit, so we have to pay a bigger fee, I think that's perfectly reasonable. Conversely, if bitcoin is of low value, we get less profit, so we just pay a small fee, it will not affect our profit.

Yes, many people are too greedy. How much they do not have the opportunity to earn it is only a little more and complain.

[XbladeX]

remember that are not the miners that make the fee, they could accept even the lowest fee if everyone was using the lowest one and reducing the average, it's up to the peple that decide what fee to use

if for example everyone start now to lower his fee the average would be like the old 10k satoshi per transaction, but instead everyone is rushing to have his/her transaction prioritized and this is increasing the average, miners have no fault here

tell that bitmain mining empty blocks while bitfury have almost zero empty blocks

[jc89]

Let us make it this way, every transaction have fixed transaction fee, let us say 2% of the total amount to be sent. So if a user sends 1btc then the transaction fee would be 0.02btc. Regardless of the value of btc in usd, the transaction is still fixed so if you send a small value then you will pay low tx fee ang the same when you send a big value you will pay big tx fee. As for me this is fair enough.

Disclaimer: I am not saying that this is the exact way of paying tx fee, it is just an analogy.

[spin]

It's more fair than most payment systems. 

The fact that it's variable and changing based on demand is an indication that there is a real market happening.  It's much easier to have unfair bank fees, because as a client of your bank there is no immediate fee market on every transaction you make.   So it's more likely that any other payment system's fees are resulting in over payment to the bank/processor as they have less competition on their fees.  Or at least less dynamic competition.

Also the fee varies by the size of the transaction means smaller (in bytes) more efficient transactions pay less.  Large transactions does not cost the network more to process so should not be charged more.

[citywise2]

  Bitcoin as form of paying for services and other has a speed of growth.
I think merchants around the globe have an incentive  to accept the digital currency for it transaction fee are very lower than 1-3% charges.

[Xester]

Not only fair but harmful extremely for the bitcoin image, one of the promises of bitcoin was low fees,but now we just have to or rather forced to pay high fees and fee per byte is not even adjusted with the market price, what we need to do is to set and agree on the dollar value of fees instead of satoshi/ bitcoin value.
If you don't pay the higher than usual fee then you'd to wait hours and those unlimited guys are spamming the network to justify the need for an unlimited fork so when people complained about high fees they come and say hey we have a solution it's called BU.

It is unfair and a big disadvantage especially for small time bitcoin users since we can hardly use bitcoin for small transactions since the fees are very high. But it is the price of being a decentralized currency wherein nobody is in control or somebody to regulate the fees that are being placed on the shoulders of the consumers. This is the disadvantage brought by decentralization but we must accept the fact since we dont want bitcoin to be placed under regulations and centrality.